search query: @author Wu, Jinglian / total: 10
reference: 6 / 10
| Author: | Wu, Jinglian |
| Title: | Don't mix the concept of capital market with stock market (original in Chinese) |
| Journal: | China Reform (c)
1998 : 6, p.30-31 |
| Index terms: | CAPITAL MARKETS STOCK MARKETS |
| Language: | chn |
| Abstract: | Currently, the indirect financing methods, which hold a dominant position on the capital market, viz by way of state-owned banks to draw deposits and issue loans, are low in efficiency and conducive to producing corruptions. This is caused by defects in systems. At present, the most important problem of the financial market lies in the fact that government institutions at various levels or enterprises that subordinate to them play a double role. They are profit-seekors on the market, meanwhile they have administrative powers. This causes a large number of fraudulent practices. If such an institutional problem is not to be solved and a large amount of capital is poured into this deformed financial market, the result is doomed to be the wealth expansion of the minority by means of cheating the vast majority of stockholders. |
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